Unlocking Graduate Potential: Commonwealth Alumni and Entrepreneurship
The CSC has published a policy briefing paper which examines how entrepreneurial Commonwealth Alumni contribute towards job creation in low and middle income countries. In these countries, the proportion of the population enrolled in tertiary education has increased rapidly in recent years, but job markets have been unable to keep pace, and there are insufficient numbers of skilled jobs available to meet the needs of the rising number of graduates.
The United Nations has highlighted the need for action in this area, with Sustainable Development Goal 8: Decent Work and Economic Growth calling for policies that promote job creation and enterprise, as well as investment in youth employment, education, and training. The UK Government has also committed to supporting low and middle income economies to transform at pace and provide quality jobs for an expanding workforce.
The CSC supports this goal by equipping graduates with the skills and resources they need to create jobs for themselves and others. Between 2016 and 2023, almost one-fifth of Alumni have reported that they had founded or co-founded a new company, department or institute following the completion of their Commonwealth Scholarship. Similarly, more than 90% had personally led or designed a new initiative or project. These impressive figures demonstrate the strong entrepreneurial spirit of Commonwealth Alumni. The companies and organisations founded by alumni create vital jobs, but also frequently contribute towards addressing key development-related issues, such as accessible healthcare, clean energy and food security.
The paper also highlights the potential of Commonwealth Alumni to support others in their home country to become entrepreneurs, demonstrating the compounding impact of Commonwealth Scholarships, as a single alumnus can have a transformative effect on their home country.
Overall, the paper demonstrates the ways in which Commonwealth Alumni are creating jobs for themselves and others, whilst also addressing critical development issues, delivering on the UK’s commitment to supporting the transformation of low and middle income economies.
The full policy brief can be read here.
